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| MDM4015 | Mineral Economics | 3+0+0 | ECTS:4 | | Year / Semester | Fall Semester | | Level of Course | First Cycle | | Status | Compulsory | | Department | DEPARTMENT of MINING ENGINEERING | | Prerequisites and co-requisites | None | | Mode of Delivery | Face to face | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Prof. Dr. Ali Osman YILMAZ | | Co-Lecturer | None | | Language of instruction | | | Professional practise ( internship ) | None | | | | The aim of the course: | | The objectives of the lecture are: Explaining of terminology and cash flow diagrams, present value-future value calculations, interest calculations, internal effectively calculations of projects, benefit/gain ration evaluations, capital investment, economical analyses, sensitivity analyses, units and definitions, cut-off grade, project feasibility. |
| Learning Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | LO - 1 : | formulate and solve time value of money problems | 1.1 - 1.2 | | | LO - 2 : | determine and obtain data to solve mineral economic problems using appropriate techniques | 1.1 - 1.2 | | | LO - 3 : | evaluate multiple alternatives the optimum one | 1.1 - 1.2 | | | LO - 4 : | understand the importance of making appropriate economic decisions | 1.1 - 1.2 | | | LO - 5 : | recognize the importance of mineral economic decisions in a global and societal context | 1.1 - 1.2 | | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome | | |
| Principles and procedures in mineral property valuation, geostatistical ore reserve estimation, investment analysis; . Decision making in engineering, Cash flow analysis, sensitivity analysis, pareto analysis, risk analysis in mining, cut-off grade analysis, break even analysis, Capital cost, feasibility study, cost estimation, determination of the production life of mining project. |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Cost analysis | | | Week 2 | Cost analysis | | | Week 3 | Break-even anlysis | | | Week 4 | Break-even anlysis | | | Week 5 | Depreciation | | | Week 6 | Offical holiday | | | Week 7 | İnterest and application | | | Week 8 | Mid-term exam | | | Week 9 | Project evaluation techniques | | | Week 10 | Offical holiday | | | Week 11 | Cash flow analysis | | | Week 12 | Risc analysis | | | Week 13 | Marketing of mineral products | | | Week 14 | Midterm 2 | | | Week 15 | Pareto anlysis | | | Week 16 | End-of-term exam | | | |
| 1 | Köse, H.; Kahraman, B., 1992; Maden İşletme Ekonomisi, Dokuz Eylül Üniversitesi, Mühendislik Fakültesi Yayınları, No 223, İzmir | | | 2 | Gentry, D. W. and T. J. O'neil, 1984; Mine Investment Analysis, SME Publishing | | | 3 | Ergin Arıoğlu,Ali Osman Yılmaz,2001; Pratik Madencilik Problemleri, TMMOB Maden Müh. Odası Yayını, Ankara. | | | 4 | Sarıaslan, H.1994; Yatırım Projelerinin Hazırlanması ve Değerlendirilmesi, Turan Kitabevi, Ankara. | | | 5 | Tolga, E., Kahraman, C.,1994; Mühendislik Ekonomisi, İ.T.Ü. Yayını, No: 1542. | | | 6 | Işık, A.1999; Mühendislik Ekonomisi, Kütahya. | | | |
| 1 | Vogely, W. A.,1985; Economics of the Mineral Industries, SME Publishing. | | | 2 | Rudawsky, O.,1986; Mineral Economics, Elsevier publishing. | | | 3 | Wahl, S.V., 19873;Investment Appraisal and Economic Evaluation of Mining Enterprise, Trans Tech Publications | | | 4 | Stermole, F. J. and Stermole, J. M.,1987; Economic Evaluation and Investment Decision Methods, Investment Evaluation Corporation. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | 19-11-2018 | 1,25 | 50 | | End-of-term exam | 17 | 18-01-2019 | 1,25 | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 1 | 10 | 10 | | Arasınav için hazırlık | 2 | 10 | 20 | | Arasınav | 2 | 6 | 12 | | Uygulama | 1 | 5 | 5 | | Kısa sınav | 2 | 7 | 14 | | Dönem sonu sınavı için hazırlık | 1 | 20 | 20 | | Dönem sonu sınavı | 2 | 6 | 12 | | Total work load | | | 135 |
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